Crypto Push

2024-02-29 16:00:13 Bullish Signs for MATIC: Will It Reach $2?

Polygon's Red Flag: While the crypto market surged, MATIC faced a setback on its daily chart, missing out on a potential bullish breakout.

Sluggish Sentiment: With MATIC trading at $1.05 and a drop in its Weighted Sentient, the market sentiment wasn't looking too bright.

Captain Faibik's Insight: Amidst the uncertainty, there was hope as Captain Faibik hinted at a bullish triangle pattern, raising the possibility of MATIC hitting $2 soon.

Resistance Ahead: But it won't be an easy climb. Data from Hyblock Capital suggests that liquidation pressure could surge at $1.08, posing a hurdle for the altcoin.

Mixed Signals: Analyzing the charts, Bollinger Bands indicated high volatility, while MACD favored buyers. However, RSI hinted at a potential delay in reaching the coveted $2 mark.

In this rollercoaster ride for MATIC, all eyes are on whether it can break through resistance and make that leap to $2. Stay tuned!

Disclaimer: This is not financial advice. Please do your own research before investing. Open / Comment

2024-02-26 10:00:31 Solana's Surge: High Fees, High Hopes?

Solana [SOL] has been on a roll in 2024, with soaring market capitalization. But there's a hitch in its stride.

Network Activity Check: Recent data shows that Solana's transaction fees have skyrocketed, surpassing $0.03 and raising eyebrows compared to other Layer 2 solutions.

The concern? High fees could discourage users from making transactions, impacting network activity. So we dug deeper.

Our analysis revealed that despite the costs, Solana's active addresses and daily transactions remained robust, indicating users' willingness to pay the price.

The silver lining? These high fees contributed to a surge in revenue, but the graph took a dip soon after.

On the DeFi front, things looked sunnier as SOL's Total Value Locked (TVL) hit $2 billion, marking steady growth since December 2023.

Investors had reasons to cheer too! SOL's price performance was solid, climbing over 17% in the last month. It currently stands at $102.91 with a market cap of $45.3 billion.

Development activity remained strong, showcasing ongoing efforts to enhance Solana. However, social chatter around SOL turned bearish lately. Open / Comment

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2024-02-22 21:00:04 Ripple CEO Bullish on XRP ETF: A Boost for the Community?

The buzz around ETFs is growing louder in the crypto world, and Ripple's Brad Garlinghouse sees potential for an XRP ETF. Speaking to Bloomberg TV, he expressed his belief that it would be a positive move for the XRP community.

While rumors of talks with BlackRock swirled, Garlinghouse remained tight-lipped. However, it's worth noting that a false report about an XRP ETF from BlackRock caused quite a stir in the market not too long ago.

The idea of an XRP ETF has been brewing for a while. Ripple even advertised for a role focused on driving cryptocurrency-related ETF initiatives. But skeptics like Fox Business' Eleanor Terrett argue that a futures ETF might need to come first.

Unfortunately, XRP hasn't been faring well lately, with losses stacking up. It's the only major asset in the red this month, which has deterred some big investors from accumulating more.

As Santiment's data shows a decline in holdings among larger addresses, it seems whales aren't diving into XRP just yet. And with more bearish bets being placed by derivatives traders, caution remains in the air.

While an XRP ETF could be an exciting prospect for the community, it's clear that challenges lie ahead for this digital asset. Open / Comment

2024-02-19 17:30:08 Arbitrum Surpasses Ethereum in Derivatives Volume: A New Leader Emerges

The numbers are in, and Arbitrum is making waves in the world of cryptocurrencies. In a stunning turn of events, this Layer 2 network has overtaken Ethereum in derivatives volume, leaving many wondering: what's next?

According to DefiLlama, Arbitrum's weekly transaction volume for derivatives hit an impressive $18 billion, a whopping 17% increase compared to Ethereum's $9 billion. It's a clear sign that the tides are shifting.

For years, Ethereum reigned supreme as the go-to platform for derivatives. But on November 26th, 2023, the crown was passed to Arbitrum, and it hasn't looked back since. Month after month, its volume has outshined Ethereum's.

In December alone, Arbitrum saw a staggering $45 billion in derivatives transactions, while Ethereum trailed behind at $38 billion. And January? Another win for Arbitrum with $55 billion versus Ethereum's 18% drop.

This surge hasn't gone unnoticed. Data from DefiLlama reveals that Arbitrum now commands 42.44% of the multi-chain derivatives market share, while Ethereum's slice has shrunk by a worrying 38%.

As the market takes notice, ARB, Arbitrum's governance token, is reaping the rewards. With a solid 10% rise in value over the past month and an MFI reading of 84.25 indicating strong demand, it's clear that ARB is gaining traction. Open / Comment

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2024-02-16 17:00:28 Bitcoin ETFs ‘spark’ Coinbase profits as COIN rallies by +10%

Coinbase, the leading cryptocurrency exchange, has reported a net income of $273 million in Q4 2023, surpassing expectations and showcasing its strong performance.

With a total revenue of $3.1 billion last year and a notable increase in adjusted EBITDA nearing $1 billion, Coinbase's stock has soared to over $189 in after-hours trading.

CFO Alesia Haas attributes this success to increased trading volume fueled by the introduction of Bitcoin ETFs and optimism about the macroeconomic environment in 2024.

As the custodian of 90% of Bitcoin ETF crypto-assets, Coinbase has benefited from a massive $4 billion net inflow, while its partnership with Circle and the Federal Reserve's rate hikes have boosted interest income on USDC.

In terms of regulatory compliance, Coinbase stands out as the most compliant exchange, gaining market share due to the demise of competitors like FTX and Binance's issues, according to ARK Invest CEO Cathie Wood.

While awaiting a decision on the SEC v Coinbase case, legal experts lean towards Coinbase's position, giving it a 70% chance of winning, similar to victories seen in cases involving Ripple and Grayscale.

The surge in profits has propelled COIN shares higher, with an over 14% increase in after-hours trading. Both Coinbase and Bitcoin have seen more than a 20% rise month-to-date.

Looking ahead, Coinbase plans to focus on its USDC stablecoin and explore blockchain utility through its layer-2 blockchain, Base. Regulatory efforts remain a priority for the exchange and the broader Web3 industry. Open / Comment

2024-02-14 18:01:25 $ORIS (Oris) listed on the LBank exchange!

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2024-02-13 22:30:30 Cardano's Activity Surge: Will ADA Soar?

Cardano [ADA] has been on a rollercoaster ride lately, with market sentiment swinging back and forth, causing price fluctuations.

But there's hope! The network activity is picking up, with a whopping 81,000 successful transactions in the past 24 hours. More users are joining the Cardano blockchain!

DeFi is driving this surge, especially with the Cardano DEX Spectrum hitting a milestone of 1.04 million ADA in daily trading volume. The Total Value Locked (TVL) is also on the rise.

However, not all is rosy. The NFT space on Cardano seems to be facing headwinds, with sales volume down by 16.30% and fewer buyers by 83.58%.

This decline could impact artists and developers relying on Cardano for NFTs, highlighting the need for innovation and diversity in the marketplace. Open / Comment

2024-02-10 15:00:08 XRP's Q4 2023: Transactions Soar, Active Addresses Plunge, and NFTs Take Flight!

Transactions Take Off with Inscriptions
In a remarkable turn of events, average daily transactions for XRP skyrocketed by 22.7% in Q4. The primary catalyst? A flurry of activity in December, driven by a surge in payments related to inscriptions.

Payments Dominate, Active Addresses Decline
December witnessed an astonishing 22 million payments within a week, propelling the share of payments as a transaction type to a whopping 35% for the quarter. However, this spike didn't translate into more active addresses, which dipped by a significant 31%.

Network Growth Blooms
While active addresses faced a setback, XRPL's network still showed promise with a robust 31.5% jump in new addresses. The total number of accounts also crossed the 5 million mark, marking an important milestone for the network's expansion.

NFT Mints Soar, DEX Volumes Dip
The NFT frenzy made its mark on XRP too! Mints surged nearly sixfold in Q4, driving overall NFT transactions up by an impressive 169%. On the flip side, XRPL's decentralized exchange volume experienced a dip of 78.7%, reaching $562,000.

XRP: A Steady Rise Amidst Market Gains
Turning our attention to XRP itself, the native token had a solid performance with a price surge of 19.3% and a market cap increase of 21% QoQ. While commendable, it lagged behind the broader market's gain of 53.8%, leaving room for further growth. Open / Comment